The list of qualities (an investor should have) include patience, self-reliance, common sense, a tolerance for pain, open-mindedness, detachment, persistence, humility, flexibility, a willingness to do independent research, an equal willingness to admit mistakes, and the ability to ignore general panic.

If you spend more than 13 minutes analyzing economic and market forecasts, you've wasted 10 minutes

Long-term investing has gotten so popular, it's easier to admit you're a crack addict than to admit you're a short-term investor.

It's human nature to keep doing something as long as it's pleasurable and you can succeed at it, which is why the world population continues to double every 40 years.

The best stock to buy is the one you already own.

People who want to know how stocks fared on any given day ask, "Where did the Dow close?" I'm more interested in how many stocks went up versus how many went down. These so-called advance/decline numbers paint a more realistic picture.

In business, competition is never as healthy as total domination.